Keystone Financial Planning Inc. cut its position in shares of Amgen, Inc. (NASDAQ:AMGN) by 1.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,932 shares of the medical research company’s stock after selling 307 shares during the period. Amgen makes up about 1.7% of Keystone Financial Planning Inc.’s portfolio, making the stock its 29th biggest holding. Keystone Financial Planning Inc.’s holdings in Amgen were worth $3,489,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMGN. Arbor Wealth Management LLC boosted its stake in Amgen by 154.5% during the second quarter. Arbor Wealth Management LLC now owns 168 shares of the medical research company’s stock valued at $31,000 after buying an additional 102 shares during the last quarter. C J Advisory Inc bought a new stake in shares of Amgen in the 1st quarter valued at approximately $40,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Amgen in the 4th quarter valued at approximately $41,000. Ashburton Jersey Ltd bought a new stake in shares of Amgen in the 2nd quarter valued at approximately $42,000. Finally, Sound Income Strategies LLC lifted its stake in shares of Amgen by 402.1% in the 2nd quarter. Sound Income Strategies LLC now owns 236 shares of the medical research company’s stock valued at $43,000 after purchasing an additional 189 shares during the last quarter. 78.01% of the stock is owned by institutional investors.

In other news, Director R Sanders Williams sold 425 shares of Amgen stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $183.04, for a total transaction of $77,792.00. Following the completion of the sale, the director now directly owns 16,336 shares in the company, valued at approximately $2,990,141.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald D. Sugar sold 2,000 shares of Amgen stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $187.58, for a total transaction of $375,160.00. Following the sale, the director now owns 16,336 shares of the company’s stock, valued at $3,064,306.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,425 shares of company stock valued at $804,312. 0.25% of the stock is owned by insiders.

Shares of AMGN traded up $0.85 during mid-day trading on Wednesday, hitting $204.02. 1,125,998 shares of the company’s stock were exchanged, compared to its average volume of 3,882,518. Amgen, Inc. has a fifty-two week low of $166.30 and a fifty-two week high of $211.90. The firm has a market capitalization of $122.35 billion, a P/E ratio of 14.17, a P/E/G ratio of 2.39 and a beta of 1.19. The business’s 50 day moving average is $185.49 and its two-hundred day moving average is $183.23. The company has a current ratio of 2.89, a quick ratio of 2.60 and a debt-to-equity ratio of 2.58.

Amgen (NASDAQ:AMGN) last announced its quarterly earnings data on Tuesday, July 30th. The medical research company reported $3.97 EPS for the quarter, beating the Zacks’ consensus estimate of $3.58 by $0.39. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.67 billion. Amgen had a net margin of 33.78% and a return on equity of 76.17%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.83 earnings per share. On average, equities research analysts forecast that Amgen, Inc. will post 14.25 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Thursday, August 15th will be given a $1.45 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $5.80 dividend on an annualized basis and a yield of 2.84%. Amgen’s payout ratio is currently 40.28%.

AMGN has been the subject of several analyst reports. Piper Jaffray Companies set a $210.00 price objective on Amgen and gave the company a “buy” rating in a research note on Saturday, August 10th. Cowen reissued a “buy” rating and set a $229.00 price target on shares of Amgen in a research note on Wednesday, May 1st. Evercore ISI reissued a “hold” rating on shares of Amgen in a research note on Sunday, August 11th. BidaskClub raised Amgen from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets set a $230.00 price target on Amgen and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $212.94.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It offers products for the treatment of oncology/hematology, cardiovascular, inflammation, bone health, and neuroscience. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta, a pegylated protein to treat cancer patients; Prolia to treat postmenopausal women with osteoporosis; Aranesp to treat anemia; Xgeva for skeletal-related events prevention; Sensipar/Mimpara products to treat sHPT in chronic kidney disease; and EPOGEN to treat a lower-than-normal number of red blood cells.

Further Reading: Trade War

Want to see what other hedge funds are holding AMGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amgen, Inc. (NASDAQ:AMGN).

Institutional Ownership by Quarter for Amgen (NASDAQ:AMGN)

Receive News & Ratings for Amgen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amgen and related companies with MarketBeat.com's FREE daily email newsletter.